Sei Investments Co. Sells 3,677 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sei Investments Co. reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,861 shares of the medical equipment provider’s stock after selling 3,677 shares during the quarter. Sei Investments Co. owned about 0.11% of Align Technology worth $17,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Algert Global LLC increased its position in Align Technology by 46.7% during the 3rd quarter. Algert Global LLC now owns 2,022 shares of the medical equipment provider’s stock valued at $514,000 after purchasing an additional 644 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Align Technology by 10.5% during the third quarter. Daiwa Securities Group Inc. now owns 9,804 shares of the medical equipment provider’s stock valued at $2,493,000 after buying an additional 928 shares during the period. Bank of Montreal Can raised its stake in Align Technology by 73.6% in the third quarter. Bank of Montreal Can now owns 140,192 shares of the medical equipment provider’s stock worth $35,722,000 after buying an additional 59,436 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Align Technology by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 74,354 shares of the medical equipment provider’s stock worth $18,910,000 after buying an additional 255 shares during the period. Finally, FMR LLC boosted its position in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $164.29 on Friday. The stock has a market capitalization of $12.09 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1-year low of $158.13 and a 1-year high of $331.64. The business has a fifty day moving average price of $195.03 and a 200-day moving average price of $215.07.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the subject of a number of research analyst reports. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Jefferies Financial Group dropped their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley decreased their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Bank of America boosted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI raised their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and an average target price of $262.64.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.